Help!! I have another one. - Posted by Kevin(OK)
Posted by Kevin(OK) on December 13, 1998 at 07:15:44:
An out of town homeowner returned my call last night. She has a property here in town that has a guestimated FMV of around 90K (I haven’t pulled comps yet). The house is currently rented for $800 per. mo., this is below fair market rent and she knows this. If she sells the house she wants to carry the mortgage for most of her equity (she still owes 10K on the house) to avoid taxes. She wants whoever buys it to put down enough cash to make her feel like the house will not get trashed out. She also mentioned that she could still take 2-3 years of depreciation on the property (I mentioned L/O), so she may wait until then to sell. She would not mention the price she wanted for the property. She wants me to mail her an offer(s), and she will decide if she wants to sell.
I know that there really isn’t a whole lot of seller motivation here, but I want to make some kind of offer(s) on the property anyway. Does anyone out there have any suggestions?